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Home  » Business » Maruti Suzuki net profit rises 36%

Maruti Suzuki net profit rises 36%

By Aradhana Aravindan
Last updated on: January 28, 2014 15:16 IST
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Maruti Suzuki, India's biggest carmaker, reported a 36 per cent rise in third-quarter net profit, matching estimates, as favourable foreign exchange movement and cost reduction efforts offset falling sales.

Maruti, controlled by Japan's Suzuki Motor Corp, said profit for the Oct-Dec quarter was Rs 681 crore (Rs 6.81 billion), up from Rs 501 crore (Rs 5.01 billion) in the same quarter of 2013. Sales fell about 3 per cent to Rs 10,620 crore (Rs 106.2 billion).

Analysts had expected the company to post a profit of Rs 684 crore (Rs 6.84 billion), according to Thomson Reuters I/B/E/S.

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Aradhana Aravindan in Mumbai
Source: REUTERS
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